Coinbase Plans to Raise $1B Through Convertible Bonds, Ether Prices May See Correction, USPTO Study Finds Current IP Laws Adequate for NFTs
Coinbase plans to raise $1 billion through selling convertible bonds, following the path of MicroStrategy to fund its crypto aspirations. The unsecured convertible senior notes will be offered through a private offering and can be turned into shares of the issuing company or cash in 2030. If the company had chosen to raise money by selling new shares, it could have diluted the ownership interest of existing shareholders. QCP Capital predicts a correction in Ether prices due to negative risk reversals and excessive leverage in the market, but remains cautiously optimistic about its long-term potential. A 112-page study by the US Patent and Trademark Office and the US Copyright Office concluded that current US intellectual property laws are adequate to deal with concerns about copyright and trademark infringement associated with non-fungible tokens, despite trademark misappropriation and infringement being common on NFT platforms.
Cryptocurrency-related stocks rose before the market opened, with Coinbase rising more than 6%
As Bitcoin broke through $65,000, cryptocurrency-related stocks rose in pre-market trading, with MicroStrategy and Marathon Digital up over 7%, Coinbase up over 6%, and Proshares Bitcoin Strategy ETF up 3.2%.
A giant whale/institution deposited 1.5 million BLUR to Coinbase
According to on-chain analyst ai_9684xtpa, two hours ago a whale/institution holding $28.54 million worth of DYDX and BLUR deposited 1.5 million BLUR tokens worth $1.07 million into Coinbase. Over the past three weeks, the address has transferred a total of 3.3 million BLUR tokens (worth $2.19 million) to the exchange, which could yield a profit of $660,000 if sold entirely. The remaining 23.88 million BLUR tokens still have an unrealized gain of $5.93 million.
Coinbase: The problem of failed deposits and withdrawals on the website has been solved and user funds are safe
On March 2nd, Coinbase Support tweeted that the issue of failed customer sending, withdrawal, and deposit on Coinbase.com has been resolved, and the website's related functions have been restored, ensuring the safety of user funds.
Coinbase will launch smart wallets and embedded wallets
Coinbase is about to launch two new wallet solutions: Smart Wallet and Embedded Wallet, aimed at making it easier for new users to enter the cryptocurrency field. The Smart Wallet will be a supplement to the Coinbase Wallet SDK, a software toolkit that allows developers to create wallets immediately in decentralized applications using keys, which means no complex systems such as seed phrases or any additional steps are required. The Embedded Wallet will be supported by "Wallet as a Service" (WaaS), which means companies can customize blockchain wallets for their own customers, allowing developers to create white-label embedded wallets that reduce the complexity of cryptocurrencies and instead support familiar email and social login processes."
Coinbase expands its asset recovery tools to BNB Smart Chain and Polygon Network
Coinbase has expanded its asset recovery tool to the BNB Smart Chain and Polygon network. This tool helps users recover unsupported tokens sent in error to their Coinbase address. Coinbase Product Manager Vignesh Muralidharan stated that so far, the tool has helped users recover funds worth over $160 million.
U.S. crypto-concept stocks rose collectively, with Coinbase rising nearly 6%
According to the rise of Bitcoin today, after the opening of the US stock market, stocks related to cryptocurrency rose collectively, with MicroStrategy and Marathon Digital up nearly 9%, and Coinbase up nearly 6%.
Coinbase stock price breaks through $180, hitting a new high in the past month
Today, the US stock market opened and Coinbase (COIN) stock price broke through $180, currently trading at $182.08, with a daily increase of 10.34%. In addition, Coinbase's current stock price has reached a new high in the past month, with a monthly increase of 45.44%.
Coinbase: 21% of adults in Texas own digital assets
According to a blog post by Coinbase, 4.7 million adult Texans (21%) own digital assets, according to previous data from Morning Consult. Cryptocurrency owners in Texas represent the state's next generation of voters, with 39% of them aged between 18 and 34, with most of them coming from households with less than $75,000 in income. The survey found that this emerging, young, and more diverse group of voters cares about politicians and leaders' stance on cryptocurrencies, economic opportunities, freedom and fairness, job creation, accessibility, and the technology's global leadership potential. Coinbase stated that as the 2024 US presidential election approaches, Texas is leveraging its natural advantages to become a global cryptocurrency center, and Texas voters support cryptocurrencies.
Coinbase has halted trading of Status (SNT) tokens
Coinbase has announced the suspension of Status (SNT) trading on the X platform. Users can still use their funds and continue to withdraw them at any time.
